Monday, December 31, 2012

Just 3 years ago -

Developer prices for a 2/2 are now $65,900. 
See prices at:

Friday, December 28, 2012

A new Owners List is available, use this link for direct access to the new one and others going back several years:  Only the first page of 4 is shown on the blog due to space limitations, the full list is found at the above link.

Where are NCC Owners from:
FL 71, GA 11, TN 7, AL 5, OH 3, NV 2, LA 2 and 1 each from: MN, NE, NJ, MO, MI, CO, VA, CA, MS, KY, Unk

For larger image, right click, then open in new window-

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Thursday, December 27, 2012

UPDATE: 23rd Street Wal Mart opens Wed. Jan. 23rd

"The doors open at 8 a.m. Jan. 23," said Wal Mart Manager Cobb said. "We are expecting huge crowds. The community response has been awesome."

"We actually took possession of the contractor on Dec. 10," he said. "We just finished putting in the fixtures and we are getting in the nonperishable items. It takes about a month to stock" a supercenter Cobb said the former store on 23rd was a "division one store," which was a "general merchandise" store but "This is a Supercenter and this has a bakery, a deli and an area for frozen foods and dairy," he said.   Package liquor also will be available. "This is a 99 percent new building,"

About 250 associates already have been hired to work at the Panama City store, but the company would look to hire about 25 more people, Cobb said.

Cobb said the Workforce Center at 625 U.S. 231 is now looking for applicants for the upcoming Wal-Mart at Pier Park, which is under construction across from Target. Applicants for either Wal-Mart also can apply online at

The old Wal-Mart on 23rd Street is being reopened on 1/23/12 as a Super Center with 265 associates for the expanded store, which will have household, clothing items and groceries, including fresh produce, meat and deli items. There will also be a garden center.  

The reopened store has expanded to include the next door Fashion Bug store.

The Wal-Mart store has opened a temporary hiring center at the Workforce Center, 625 Hwy 231, open 8-5 Mon-Fri. Applications can also be submitted online at:

Most of the new associates will start work in December to prep the store for its 2013 grand opening.   The store manager is Tim Cobb.

The old Wal-Mart, which opened in 1987, was replaced by the large Lynn Haven store which was at the time the 4th largest Wal-Mart in the country.

The Panama City Wal-Mart opened at 513 W. 23rd St. and it was closed in October 2009. The city lost out on about $500,000 annually in revenue from sales taxes.There are also locations in Callaway and Panama City Beach, and another Panama City Beach location is under construction near Pier Park just 3/4 of a mile from Nautilus Cove. 

Addl. details at: and also

Friday, December 21, 2012

Just FYI if you are planning way way ahead-

The next AGM is set for Jan 19th, but if you are interested, the date for the 'following' AGM, is now set as Sat. Dec. 13, 2013.

This goes back to how we originally set Annual General Meetings, they were held in the first or middle of December. It only changed because the then Board of Directors got very sloppy when planning for our 'Turnover' election and missed the time frame for announcing the AGM for that year, by the time they noticed they were past the notification date for an early/mid December meeting and the meeting had to go into January, then the next one (the coming meeting) was also set for January.

Now we are going back to how it was done previously and probably all our coming AGM's will be in early or mid December with a BOD meeting following it.

Wednesday, December 19, 2012

#102 has new Owner

A month ago the Troncale unit #102 was sold for $99,000 to Olin H. Skinner of Gainsville, Ga. 

The 4/3 was originally bought 12/18/06 by Kyle McKendree for $184,900, it was forclosed and then purchased by Ms Troncale for $90,000 on 3/28/11. 

Even considering realtor charges, Ms. Troncale may be the only Owner here to make a few bucks on a condo sale at NCC in the last few years.  Ms. Troncale served on the Board for 9 months before the sale.

Thursday, December 13, 2012

Info from the Office:

Dear Owners and Residents:

In an effort to provide a more secure complex, the Board of Directors has instructed that there be one gate code assigned to the entrance gate, and that it be changed on the first day of each month.

During the next two weeks, the individual codes that owners and residents have been assigned will be phased out of the system. If your code is no longer working, please use #1776 as the interim code.

We will be issuing the codes each month through email, but it is the owners' and residents' responsibility to insure that they have the updated code for themselves, their families and roommates.

Gate cards and gate remotes may continue to be used as normal.

We appreciate your cooperation during this transition period!

Bus Area Issue

Our resident children have been doing a great job using the front pedestrian gate when they are going to and from the bus. Please let them know we appreciate them doing their part in helping to keep them safe from the traffic areas!

Pedestrian Gate

The process to install a new pedestrian gate at the back of the property is in full swing! The gate will replace the current gate that is no longer in use. It will have a keypad on each side, and the code will be changed monthly, as at the entrance gate. The two gates will use the same code each month.

In the meantime, please advise your children (those who have school-age children) to refrain from climbing over the fence at the back of the property. This is damaging the fence structure and a child could get injured.


40 of the Most Common Florida Condo Laws Used By Board Members are found at:

If you would like to review dozens of interesting Q and A's about Condo issues that have appeared in a South Florida paper go to:

Wednesday, December 12, 2012

Only 1 in 6 condos are Owner occupied at Nautilus Cove

Out of 168 condos only 27 have a 'homeowners exemption', that is 16% of the units and it has held at this level for the last year.  Some new registrations come on and others, through foreclosures or move aways are subtracted.  It is difficult to get a firm fix on this as the wildcard in the deck is the surge in 'lis pendens' (in foreclosures) which leaves some units empty for long periods.

There is a growing trend for buyers to pick up bank foreclosures/short sales at rock bottom prices and then rent them out as income producing properties.  This works out fine if you purchase at 45-50% of the original sale price and you can make some money renting out such units.  It dosen't work out nearly as well for those owners who paid full price before the housing bubble burst.  The $800-1,000 they bring in monthly might not even be enough to pay the mortgage each month, let alone the condo fees, taxes and insurance.

So those who purchased here thinking they would be living in a community of other owners and enjoying retirement have found that they are owners in an apartment complex.  Not really what they had in mind in 2005-08 when they decided to buy here.  New owners will continue to replace old owners and the complex will probably continue to be about 80% rentals.  The 'good news' is:  we won't have to rent a hall for the Annual General Meetings, we can just have them in the clubhouse.

Monday, December 10, 2012

The Snowbirds are coming - but not many to PCB.

Those use to spending a winter in Florida probably think that the seasons are reversed in the Florida panhandle, aka:  the Redneck Riviera.

Instead of businesses opening now for the tourist season, here in North Florida many are closing for the winter months.

In South Florida, their tourist season started last month and runs until about March when most of the snowbirds have flown back to their northern or Canadian homes.  If you drive through Hollywood (S. Broward County) during the winter you may see more Canadian Flags than US Flags.   But here in Panama City Beach, in March we are just opening up for the start of our tourist season.

While we have better weather during the winter than the North and Midwest, we can't match the 70's and 80's of South Florida so we miss the influx of the rich Yankee tourists who go to Ft Lauderdale, West Palm and Miami Beach.

Our season starts about March and goes to around November and we draw from neighboring states whose residents want to come down and go 'to the beach' either renting a home or condo or using their already owned second home.  Our area tourists are drawn from more working class folks thus the term 'Redneck Riviera'.

Friday, December 7, 2012

Who or What is Concord Management Ltd?

Here it is in their own words taken from:

This is what Atlantic Housing says about Concord: "Atlantic Housing is the commonly used brand name for our family of companies . . . The members of our team include Atlantic Housing Partners, Global Realty, CPG Construction and Concord Management . . . Concord Management Limited is a leader in high quality, customer focused property management of multi family and single family affordable rental housing communities."

This 'Team' of 4 companies build, sell and manage 'affordable' (ie: Low Income) apartment complexes (140 of them). Concord works for Atlantic Housing and NOT for the Owners at NCC.

Concord has to be removed as our management company, they do NOT have our best interests in mind.

For Concord consumer comments you can see at: or look at their 'Flagship' property and corporate HQ at:

Wednesday, December 5, 2012

Coming Spring of 2014, 1 Mile West of NCC

Update:   If you are heading west from NCC towards Target/Pier Park you will notice that the consturction has started for Pier Park North with the initial clearing of the property. 

For larger clear image, right click and open in new window

Casto Development will soon add another shopping center to their over 100 centers in 10 states. This center will be approx 380,000 sq ft with 1,800 parking places.   If the permitting with the City is finished in January next year then the site clearing and construction should take approx. a year to the first stores opening.

Pier Park North will be located just across PCB Parkway (Back Beach Rd) from the current Pier Park/Target/Wal-Mart complex. This is US-98 near the intersection of Route 79.
The average daily traffic count on PCB Pky is 47,000 daily and growing. Pier Park North is located one mile west of Nautilus Cove.  Prospective tenants include:

Working on Letter of Intent:
 ■America’S Best
 ■Aspen Dental
 ■Best Buy
 ■Family Christian
 ■Hibachi Cafe
 ■Logan’S Roadhouse
 ■Mattress Firm
 ■Newt’S Cafe
 ■Orange Leaf
 ■Sally Beauty
 ■Wine World

Working On Lease:
 ■Bed Bath & Beyond
 ■Great Clips
 ■Maharaja’S Jewelers
 ■Men’S Warehouse
 ■Pier 1
 ■Shoe Carnival

Leases Signed:
 ■Lee Nails & Spa
 ■Rooms To Go


 ■Leslie’s Pool

Saturday, December 1, 2012

Duties of directors vs. officers in condo associations

There is some confusion about what a Director does vs what an Officer of the condo association does.

Probably this arises because the BOD here has 'elected' themselves to the 4 officer positions, so we have 3 people holding 7 positions. Not illegal, just unfortunate. Hopefully when we have the next election the new BOD will not continue this foolishness.  It started with the inception of the condo when the Developer wanted to keep Owner participation to zero so they refused to 'elect' any Owners to the Officer positions. 

This should have changed when the Owners took the Board majority but for unknown reasons the Owner boards refuse to share the positions and kept them all for themselves.

What do the directors and officers do?
Simply stated, the condo association directors make the major decisions about the property, prepare the budget, choose the management company, authorize larger expendetures and 'elect' the 4 officers of the association, etc. and the condo association officers implement those decisions and take care of the day to day operation of the condo.

Take a look at this article which will give you some perspective on the matter.  Also see: